Exam 4: General Accounting and End-Of- Period Procedures: Service Business

A check written to the owner for working in the business is considered a(n)______ .

The Statement of Cash Flows organizes information regarding cash as Operating Activities, Investing Activities, and Financing Activities.

Accrual basis accounting matches the income from the period and the expenses for the period to determine the net income for the period.

In a sole proprietorship an owner's name is added to the vendor list for recording withdrawals.

______allow(s) you to make a closer observation of transaction details and/or amounts.